At some point these will be shorting opportunities, but that's really a tough timing call. If you get it right, you make very fast money - get it wrong and you could get wiped out. I made very nice money shorting tech stocks in the summer of '99. By November, it was like standing in front of a train. Despite the fact that the train was destined to derail, it was better to ride it (for a while) than stand in front of it.